Most of the major securities markets are continuous. However, call market procedures are used when trading volume is low and orders have to accumulate over time in order to give depth to a market. Most organized markets use a mixture of both systems. For example, the NYSE generally is a continuous market. However, call market procedures are sued to set the opening prices of shares traded on the NYSE.
NEW YORK STOCK EXCHANGE (NYSE)
The New York stock exchange (NYSE), the largest organized securities market in the United States, was established in 1817 as the New York stock exchange board.
At the end of 2000, approximately, 3000 companies had issues listed on the NYSE, for a total of a about 3200 stock issues with a total market value of more than $13.0 trillion.
The average number of shares traded daily on the NYSE has increased steadily and substantially. The NYSE has dominated the other exchanges in the United States in trading volume. During the past decade, the NYSE has consistently accounted for about 85 percent of all shares traded on U.S. listed exchanges, as compared with about 5 percent for the American stock exchange and about 10 percent for all regional exchanges combined. Because shares prices on the NYSE tend to be higher than those on other exchanges, the dollar value of trading on the NYSE has averaged about 87 percent of the total value of U.S. trades, compared with less than 3 percent for the AMEX and about 10 percent for the regional exchanges.
American stock exchange (AMEX)
The American stock exchange (AMEX) is the second largest organized U>S. security exchange in terms of the number of listed companies, but in terms of dollar volume of trading, the AMEX is actually smaller than the two largest regional exchanges – the Midwest and the pacific. Its organization and procedures are quite similar to those of the New York stock exchange
NASDAQ stock market
NASDAQ is the largest U.S. electronic stock market. With approximately 3300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. Approximately 54% of NASDAQ-listed shares traded are reported to NASDAQ systems.
The national association of security dealers automated quotation system NASDAQ is the largest OTC market.
NASDAQ stock market is divided into two sectors: NASDAQ national and NASDAQ small cap market. Share volume is higher than on the NYSE but dollar volume is slightly less than that on the NYSE; Microsoft, Intel are listed in the NASDAQ.
Foreign stock exchanges
In addition to the domestic stock exchanges there are a number of foreign stock exchanges. In Canada, the Toronto stock exchange and the Montreal stock exchange are the dominant exchanges. On the worldwide basis the Tokyo stock exchange, and the London stock exchange are first and third in dollar volume; respectively; the New York stock exchange is second. Other important foreign exchanges includes the Zurich stock exchange (Switzerland), Sydney stock exchange (Australia), Paris stock exchange (France), Frankfurt stock exchange (west Germany), Hong Kong stock exchange (china), and south African exchange. The foreign exchanges are organized in a fashion similar to those in the United States and create a marketplace in which the securities of companies based in the given country are traded. Often these companies are foreign subsidiaries of American companies.
London stock exchange (LSE)
The London stock exchange is a stock exchange located in London. Founded in 1801, it is one of the largest stock exchanges in the world, with many overseas listings as well as UK companies.
The former stock exchange tower, based in Threadneedle Street/old Broad Street was opened by Queen Elizabeth II in 1972 and housed the trading floor where traders would traditionally meet to conduct business. This became largely redundant with the advent of the “big bang” on 27 October 1986, which deregulated many of the stock exchanges activities. It eliminated fixed commissions on security trades and allowed securities firms to act as brokers and dealers. It also enabled an increased use of computerized systems that allowed dealing rooms to take precedence over face to face trading.
In July 2004 the London stock exchange moved from thread needle street to paternoster square (EC4) close to st pauls cathedral, still within the “square mile”. It was officially opened by Queen Elizabeth II once again, accompanied by the duke of Edinburgh, on 27 July 2004. The new building contains specially commissioned dynamic sculpture called “the source”, by artists Greyworld.
NEW YORK STOCK EXCHANGE (NYSE)
The New York stock exchange (NYSE), the largest organized securities market in the United States, was established in 1817 as the New York stock exchange board.
At the end of 2000, approximately, 3000 companies had issues listed on the NYSE, for a total of a about 3200 stock issues with a total market value of more than $13.0 trillion.
The average number of shares traded daily on the NYSE has increased steadily and substantially. The NYSE has dominated the other exchanges in the United States in trading volume. During the past decade, the NYSE has consistently accounted for about 85 percent of all shares traded on U.S. listed exchanges, as compared with about 5 percent for the American stock exchange and about 10 percent for all regional exchanges combined. Because shares prices on the NYSE tend to be higher than those on other exchanges, the dollar value of trading on the NYSE has averaged about 87 percent of the total value of U.S. trades, compared with less than 3 percent for the AMEX and about 10 percent for the regional exchanges.
American stock exchange (AMEX)
The American stock exchange (AMEX) is the second largest organized U>S. security exchange in terms of the number of listed companies, but in terms of dollar volume of trading, the AMEX is actually smaller than the two largest regional exchanges – the Midwest and the pacific. Its organization and procedures are quite similar to those of the New York stock exchange
NASDAQ stock market
NASDAQ is the largest U.S. electronic stock market. With approximately 3300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. Approximately 54% of NASDAQ-listed shares traded are reported to NASDAQ systems.
The national association of security dealers automated quotation system NASDAQ is the largest OTC market.
NASDAQ stock market is divided into two sectors: NASDAQ national and NASDAQ small cap market. Share volume is higher than on the NYSE but dollar volume is slightly less than that on the NYSE; Microsoft, Intel are listed in the NASDAQ.
Foreign stock exchanges
In addition to the domestic stock exchanges there are a number of foreign stock exchanges. In Canada, the Toronto stock exchange and the Montreal stock exchange are the dominant exchanges. On the worldwide basis the Tokyo stock exchange, and the London stock exchange are first and third in dollar volume; respectively; the New York stock exchange is second. Other important foreign exchanges includes the Zurich stock exchange (Switzerland), Sydney stock exchange (Australia), Paris stock exchange (France), Frankfurt stock exchange (west Germany), Hong Kong stock exchange (china), and south African exchange. The foreign exchanges are organized in a fashion similar to those in the United States and create a marketplace in which the securities of companies based in the given country are traded. Often these companies are foreign subsidiaries of American companies.
London stock exchange (LSE)
The London stock exchange is a stock exchange located in London. Founded in 1801, it is one of the largest stock exchanges in the world, with many overseas listings as well as UK companies.
The former stock exchange tower, based in Threadneedle Street/old Broad Street was opened by Queen Elizabeth II in 1972 and housed the trading floor where traders would traditionally meet to conduct business. This became largely redundant with the advent of the “big bang” on 27 October 1986, which deregulated many of the stock exchanges activities. It eliminated fixed commissions on security trades and allowed securities firms to act as brokers and dealers. It also enabled an increased use of computerized systems that allowed dealing rooms to take precedence over face to face trading.
In July 2004 the London stock exchange moved from thread needle street to paternoster square (EC4) close to st pauls cathedral, still within the “square mile”. It was officially opened by Queen Elizabeth II once again, accompanied by the duke of Edinburgh, on 27 July 2004. The new building contains specially commissioned dynamic sculpture called “the source”, by artists Greyworld.
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